There are many loan app now which are android mobile banking app that makes getting loans very fast and easy.

But what happens when these loan apps becomes the defaulters How can the creditors get justice or their money back if the money lenders defaults

I overheard someone saying a loan app credited her account with N30, 000 which she paid 10,000 interest from one of these loan app!

The area of interest here is not the interest but the money borrowed was withdrawn from her account twice!!!

She went to the bank, the print out showed that the transaction took place in an ATM but had the name of this loan app underneath it!

She called their customer care, they admitted that they deducted the initial money borrowed minus the interest but insisted that they had nothing to do with the second withdrawal but the bank statement says otherwise!

As it is they are still insisting that the person in question still owes them money (interest)

So it got me thinking, in situations like this, what happens How can this issue be resolve Which organization is checkmating the activities of these loan app

Have you ever being in this kind of situation

How was it resolved

Seun, Lalasticlala, mynd44 bia ne ba!

If you read op post very well you will understand how your money gets deducted without giving out your atm pin or otp to anyone
All those loan app staff are suspects

,

Wiseandtrue:

They had access to her pin but she didn't change the pin after giving it to them.

Loan shark companies are evil